Archive: year-end planning

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Renovations Placed in Service Provide Tax Deductions for Hospitality Business Owners

As 2019’s tax year begins to wind down, restaurant, hotel, and food distribution owners have the opportunity to take advantage of a variety of tax depreciation incentives. These tax deductions can be substantial if a business owner purchases a high quantity of fixed assets or a major buildout, or if a refurbishment project for their […]
December 13, 2019

New Retirement Plans Must Be Established by December 31, 2016!

One of the last great tax deductions for small businesses, including sole-proprietors and LLCs, is the ability to make tax deductible contributions to a retirement plan. If an entity does not currently have a plan in place and they expect to make deductible contributions for 2016, then a plan must be established no later than […]
December 15, 2016

2016 Tax Savings Strategies for Business Owners

With year-end approaching, there is still time for business owners to implement action items that could reduce corporate or personal tax liabilities. Here are some strategies that could save you money. Implement and fund a retirement or profit sharing plan Business owners can claim a tax deduction for contributions to fund retirement and profit sharing […]
December 7, 2016